A condo built as a part of the luxury Tahoe Beach Club development has just sold for a whopping $6 million to a Las Vegas-based buyer. The 3,970-square-foot condo located at 17 Beach Club Drive on Lake Tahoe’s South Shore is priced at $1,561.71 per square foot—the fourth-highest amount for a condo. The property description notes that the five-bed, six-bath condo is “bright and airy and blends modern livability with understated luxury.” The condo has an open floor plan, multiple terraces, and even a personal elevator to move through its multi-story layout. The condo and surrounding development, started in 2019, was the first lakeside development approved in Tahoe in over 35 years, highlighting the high housing demand in the area.
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Only the uber rich can afford to deal with all the red tape and regulation it takes to build in Tahoe. A recent project we completed had $350,000 of entitlement fees per unit just to get the permission to build. There will never be affordable housing in the Basin.